1. Attachments are working again! Check out this thread for more details and to report any other bugs.

Prius price quote.... what do you think?

Discussion in 'Gen 3 Prius Main Forum' started by Kora, Jun 11, 2010.

  1. Kora

    Kora New Member

    Joined:
    Jun 11, 2010
    10
    1
    0
    Location:
    Michigan
    Vehicle:
    2010 Prius
    Model:
    N/A


    I live in Lansing, Michigan. The dealer here has offered me a quote for 36 months lease on 2010 Prius:

    $316 + tax for a Prius 4 (with moonroof)

    $ 333 + tax for a Prius 5

    These deals are "after paying just inceptions"

    I don't know what that statement and the word even means!!

    What do you guys think?
     
    #1 Kora, Jun 11, 2010
  2. chajones

    chajones Junior Member

    Joined:
    May 19, 2008
    24
    3
    0
    Location:
    Little Egg Harbor, NJ
    Vehicle:
    2010 Prius
    Model:
    IV
    I think it means after all dealer incentives. Dealers get additonal money from the manufacturer based upon the model, units sold, etc.

    As far as the lease price, I don't know. I drive too many miles (45,000 a year) to lease. But anyone answering this will want to know if there is a trade-in and how much, if any, money are you putting down.
     
    #2 chajones, Jun 11, 2010
  3. Kora

    Kora New Member

    Joined:
    Jun 11, 2010
    10
    1
    0
    Location:
    Michigan
    Vehicle:
    2010 Prius
    Model:
    N/A
    Just got an email from the dealer. What he means by inceptions is the first month's rent .... well, payment, plus tax, documentation/license/title fees.

    So, no money down, apparently except for the above.

    So, it it a deal?
     
    #3 Kora, Jun 11, 2010
  4. njmurvin

    njmurvin Member

    Joined:
    Mar 22, 2010
    103
    12
    0
    Location:
    Simi Valley, CA
    Vehicle:
    2013 Prius
    Model:
    Three
    I can't comment on the P5, but the deal on the P4 is very good with that equipment. Do you know the dollar amount of drive-off? They may have the $650 lease origination fee in the drive-off. That would lower the payments.
     
    #4 njmurvin, Jun 11, 2010
  5. Kora

    Kora New Member

    Joined:
    Jun 11, 2010
    10
    1
    0
    Location:
    Michigan
    Vehicle:
    2010 Prius
    Model:
    N/A
    Well, I did send him an email and he hasn't replied yet. I guess we will have to wait.

    However, if $316 for a Prius 4 is a good deal, I believe ~$20 more for Prius 5 is an excellent deal, wouldn't you think so?

    Also, I will see what the out the door price is and then negotiate with him on $3000 down pay.
     
    #5 Kora, Jun 11, 2010
  6. njmurvin

    njmurvin Member

    Joined:
    Mar 22, 2010
    103
    12
    0
    Location:
    Simi Valley, CA
    Vehicle:
    2013 Prius
    Model:
    Three
    You can't just go by the monthly payment. You have to factor in MSRP, selling price, cap cost (could include some garbage fees), residual, drive-off and money factor (interest rate). Plus, consider whether are you getting enough miles for the lease term? If not, you may have a big surprise at the end of the lease.

    In my case, I took the 15k miles/yr and I'm not sure that's gonna be enough. We always seem to want to take the Prius everywhere we go - LOL.
     
    #6 njmurvin, Jun 11, 2010
  7. Kora

    Kora New Member

    Joined:
    Jun 11, 2010
    10
    1
    0
    Location:
    Michigan
    Vehicle:
    2010 Prius
    Model:
    N/A
    Holy s***!!!! I am a newbie and have no idea about all those.

    Basically what I figure is $333 * 36 mo * 1.06 (tax) = $12,708

    If I pay down like $5000, that would be $12,708 - $5000 = $7,708

    Which would bring my payment down to $7.708 / 36mo = $214/mo

    Now I add in the $333 (1st payment) + ~$700 +(what else do I add here??)

    Is my thinking correct or am I looking for a huge surprise when I take a bus down there?

    Thanks!
     
    #7 Kora, Jun 11, 2010
  8. njmurvin

    njmurvin Member

    Joined:
    Mar 22, 2010
    103
    12
    0
    Location:
    Simi Valley, CA
    Vehicle:
    2013 Prius
    Model:
    Three
    You should get someone experienced in negotiating with car dealers to go with you. They LOVE (as in devour) people who shop based on monthly payment.
     
    #8 njmurvin, Jun 11, 2010
  9. Kora

    Kora New Member

    Joined:
    Jun 11, 2010
    10
    1
    0
    Location:
    Michigan
    Vehicle:
    2010 Prius
    Model:
    N/A
    You wanna come? ....... ;)

    I do understand the drive-off and money factor, but what does MSRP and residual value do when I lease.... shouldn't I not be worried about how much they are going to sell the car for... I am leasing.

    Thanks!
     
    #9 Kora, Jun 11, 2010
  10. njmurvin

    njmurvin Member

    Joined:
    Mar 22, 2010
    103
    12
    0
    Location:
    Simi Valley, CA
    Vehicle:
    2013 Prius
    Model:
    Three
    Sure. I'll just fire up the Gulfstream and be right over . . . :D

    They all factor into what your payment will be. If you get the P4 with solar/nav for the price you mentioned and no more than $1000 drive-off, you're getting a good deal. If you're happy with that, that's all that matters. Just don't let them bait/switch you once you get there. Again, I can't comment on the P5.

    Good luck!
     
    #10 njmurvin, Jun 11, 2010
  11. JimN

    JimN Let the games begin!

    Joined:
    Nov 26, 2006
    7,028
    1,116
    0
    Location:
    South Jersey
    Vehicle:
    2010 Prius
    Model:
    V
    What would it cost to buy the car? Read www.carbuyingtips.com. No offense intended but from your posts it sounds like you're gonna end up chum in the shark tank.
     
    #11 JimN, Jun 11, 2010
(You must log in or sign up to post here.)